Bitcoin rises, oil stabilises and what will happen to Iran?

Bitcoin briefly touched the $64,000 mark on Friday morning, signaling a potential slight recovery. In order to fully break out of the bear market though, the leading digital asset needs to climb back up to $70,000 in the short term, a scenario that does not appear likely at the moment. Broader stock markets are also settling into a sort of summer slumber, meaning an increasing number of investors are staying on the sidelines.

Iran

The oil price stabilized following the sharp rise earlier this week, despite the ongoing conflict between the US and Iran. On top of this, the number of new jobless claims came in lower than expected, pointing to a healthy US labour market. Crypto investors are taking an optimistic view.

In recent days, the price of Bitcoin remained stable before rising to its current level of around $64,000. The Fear and Greed Index is also going up again, indicating an increasing appetite among investors to buy cryptocurrencies.

As the football World Cup enters its final weeks, investors seem more fascinated by the next world champion than by what is happening in the markets. The volatility seen during the first week of the SpaceX IPO, with the stock now down 9% since that famous debut, has subsided.

The big question for the coming weeks is, once again, what will happen with Iran and what the consequences will be for investors.